Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
GERMAN DATA
MNI (London)
GERMANY FINAL OCT CPI +0.9% M/M, +10.4% Y/Y (= FLSH)
VS SEP +1.9% M/M, +10.0% Y/Y
- German October inflation was confirmed at the flash estimates this morning, accelerating by +0.9% m/m and by +10.4% y/y. This was a substantial upside surprise at the prelim release, as price pressures intensified to a fresh post-reunification high.
- The surge in energy prices remain the key driver of CPI.
- Today's final press release highlighted the range of fiscal stimuli implemented by the German government to combat the squeeze of energy prices on consumers' income.
- September saw the expiration of the Summer 9-euro transport ticket and fuel discount, which boosted September CPI to +10.0% y/y. In October the VAT on gas and heating reduced form 19% to 7%.
- The EUR 200bln energy package measures appear to have been largely outweighed by further energy price hikes. In October energy prices edged down a mere 0.9pp to +43.0% y/y. Further fiscal support measures remain in discussion, including price caps to begin in 2023.
Germany CPI: Energy, Food and Total CPI indexes:
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok